You can now get EV tax credits for leased cars

It seems like we're going to be getting EV car tax credits when leasing electric vehicles.

Who doesn’t love a good electric vehicle tax credit, right? Well, there’s good news coming in. The U.S. Treasury Department has stated that electric car lease deals will now be eligible for EV credit. This policy will start from 1st January 2023, but how much can it benefit a typical lease?

Well, we can expect a federal EV tax credit of up to $7500 for those who are leasing electric cars. The US Government has been introducing tax incentives (aka commercial clean vehicle tax credits) for electric cars for a while and finally, they’ll be benefitting leased EVs as well.

This new electric car tax credit won’t just apply to cars that are assembled in the North American region though. As a result, those who choose to lease imported EVs will also be able to enjoy these rebates.

This announcement comes as a result of carmakers from Europe and Korea appealing for assistance in promoting their BEVs through electric car tax benefits. Any sort of new EV tax credit was to be welcomed by them since the automotive industry is already in shambles.

Previously, many non-US automakers were angered when the government incentives for electric cars assembled outside the country were ended. This happened via the U.S. Inflation Reduction Act (IRA) a couple of months ago.

However, it should be noted that we don’t have enough info on the guidelines regarding vehicle assembly.

To read more car leasing info, check out our car leasing information here: https://automotive-articles.com/car-leasing-information

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